Jakarta, CNBC Indonesia – The Indonesia Stock Exchange (IDX) stated that more than half of retail investors in the domestic capital market conduct daily transactions with a value of under Rp 10 million.
Thus, this will not burden the new rules regarding the imposition of stamp duty which will take effect from March 2022. The new stamp duty rules will be imposed per purchase document or trade conformation (TC) for stock exchange transactions of more than Rp. 10 million.
“More than half of investors are active in making transactions with a value below Rp. 10 million,” said Laksono, to the media crew, Monday (21/2/2022).
Laksono explained that the provisions regarding Stamp Duty have been in effect since January 2021, while the electronic stamp duty has been available since October 2021 for the fulfillment of BM for electronic documents such as Trade Confirmation (TC) for stock exchange transactions, while in March 2022, the appointment of stock exchange members (AB) is mandatory. collect Stamp Duty.
For information, TC still owes Stamp Duty even though it is not collected by the AB, the customer still owes it in accordance with applicable regulations.
“Capital Market Regulators have coordinated regarding the Implementation of Stamp Duty, so that a PP has been issued for exemption from Stamp Duty for TC Exchange transactions with a value of up to Rp. 10 million,” said Laksono.
This is to accommodate the growth in the number and activity of retail investors’ transactions, with the hope of not reducing interest in conducting Exchange transactions.
Meanwhile, related to the stock exchange member system, the Directorate General of Taxes (DGT) and regulators have held a series of socialization/workshops for ABs since early 2021, so that ABs understand the provisions and prepare the system if they are appointed as BM collectors and/or not appointed but want to facilitate the fulfillment of BM. for customers.
Furthermore, the development and infrastructure needs of AB are different, depending on the number of active customers each day. DGT has also simplified the collection process if the system is not ready, with the issuance of the Director General of Taxes Regulation (Perdirjen) which stipulates that collection can be done manually.
As is known, the Minister of Finance Sri Mulyani Indrawati has confirmed that there will be a stamp duty of Rp. 10,000 for stock trading.
It’s just that what is charged is not per share transaction, but per purchase document or per trade confirmation (TC).
The trade confirmation is an electronic document that is issued electronically or daily for the entire transaction in a daily period.
This policy was originally due to take effect on January 1, 2021 for transactions on the Indonesia Stock Exchange, but was postponed due to infrastructure preparations.
“Stamp duty is not a tax on transactions, because what appears today is as if every stock transaction is subject to a stamp duty. Even though this is not a tax on transactions but taxes on documents,” Sri Mulyani said, Monday (12/21/2020).
“So in this case the stamp duty is not imposed per share transaction,” he said.
According to him, the imposition of stamp duty for electronic documents is done to provide equality with conventional documents. This imposition will also not be enforced on January 1, 2021 like conventional stamp duty.
(sys/vap)
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